UBS Maintains a 'Neutral' on Rockwell Automation (ROK); 2012 Outlook Solid Despite Uncertain Macro

UBS maintains a 'Neutral' on Rockwell Automation (NYSE: ROK) price target raised from $60 to $79.

UBS analyst says, "ROK reported a clean beat in F4Q with total sales +22% YoY (+17% organic) and +9% sequentially. Upside was largely driven by CP&S (+24% YoY & +15% QoQ), with some of the strength driven by a pull forward of shipments from 1Q12 (although book-to-bill impressive at just <1)."

"Revised PT reflects a 10% premium (was 0%) to the now higher market multiple on our revised F12 EPS est. plus ~$5 in “excess cash.” We believe the higher premium is justified given the better than expected incremental margin performance, and an improved outlook given recent abatement of macro concerns."

For an analyst ratings summary and ratings history on Rockwell Automation click here. For more ratings news on Rockwell Automation click here.

Shares of Rockwell Automation closed at $74.33 yesterday.

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